On February 11, the California DFPI issued an opinion letter in response to an EWA provider’s request for a specific ruling from the DFPI about whether the company’s EWA solution is subject to licensure under the California Financing Laws (CFL) and California Deferred Deposit Transaction Law (CDDTL).  In response, the DFPI concluded that the provider does not originate or facilitate loans subject to the CFL or CDDTL, and that neither the provider nor its employer partners are subject to the CFL or CDDTL’s licensing requirements.
Continue Reading DFPI Approves EWA Provider

Pursuant to Financial Code section 22159(a), all DFPI California Financing Law licensees are required to submit the annual report on or before March 15, 2022, even if the licensee had no business activity in the calendar year 2021.  Failure to submit the annual report by the due date will result in penalties pursuant to Financial Code section 22715(b).
Continue Reading DFPI Reminds Licensees to Submit Annual Reports by March 15